SpiceJet’s stock saw a 5% surge after the airline announced it had reached an amicable settlement with Genesis, resolving a dispute worth over $16 million.
As part of the agreement, SpiceJet will pay Genesis $6 million and offer $4 million in equity at INR 100 per share. This deal not only resolves ongoing litigation but also provides significant savings for SpiceJet as it strengthens its path toward long-term growth.
The settlement highlights SpiceJet’s commitment to financial stability, operational resilience, and reducing legal liabilities. Both parties will withdraw all pending litigation once the settlement terms are met.
SpiceJet shares opened at ₹55.00, with a high of ₹60.70 and a low of ₹54.20 today. Over the past year, the stock has fluctuated between a 52-week high of ₹79.90 and a low of ₹46.00.
As of 11:28 am, SpiceJet shares were trading 5.81% higher at Rs 59.55 on the NSE.
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